Price has broken above the Cloud and has returned to
retest the Support/Resistance level at 14500 from above.
This level also aligns with the daily pivot point today
which adds support here. Bulls would like to see a
bounce from here which would likely take price to the
Daily R1 and the bottom of the previously broke channel.
Scalpers who trend follows on this timeframe, could enter
now and trail the stop either using the Cloud or the white
equilibrium line.
On the downside, if price closes inside the Cloud it may
open up for a move to the lower Cloud. This would
be unnatural for a pair that has set a new low and is looking
higher. 14500 is a critical level and a line in the sand
for sentiments on intraday basis.
retest the Support/Resistance level at 14500 from above.
This level also aligns with the daily pivot point today
which adds support here. Bulls would like to see a
bounce from here which would likely take price to the
Daily R1 and the bottom of the previously broke channel.
Scalpers who trend follows on this timeframe, could enter
now and trail the stop either using the Cloud or the white
equilibrium line.
On the downside, if price closes inside the Cloud it may
open up for a move to the lower Cloud. This would
be unnatural for a pair that has set a new low and is looking
higher. 14500 is a critical level and a line in the sand
for sentiments on intraday basis.